Friday, March 29, 2019

Cost of acquisition of shares on conversion of FCCB is closing price of shares on NSE on date of conversion

IT : The assessee a company based in Cayman Island entered into an agreement with a nonresident company incorporated in Hong Kong, to purchase, inter alia, 352 Zero-Coupon Foreign Currency Convertible Bonds in Nava Bharat Ventures Limited (NBVL) an Indian company listed on the National Stock Exchange of India Limited (NSE).

from www.taxmann.com Latest Case Laws https://ift.tt/2HJA1vf
-
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...